Active Sellers: Be Cautious of This Situation
I am an active domain seller, and I list my domain names for sale in several places, including forums, aftermarket marketplaces, and via private offers. I just realized I nearly put myself in a bad situation, and I want to make you aware of the potential for this type of situation.
Last week, I put a domain name for sale on a domain forum with a buy it now price. The name was also listed on Sedo, and it received an offer significantly lower than my BIN price on the forum a couple of days ago. I counter offered the buyer, he counter offered me, and I made one more counter offer, to which I have not heard back.
At this point in time, I am interested in selling this domain name quickly, so I was about to reduce the price on the forum. Just as I was going to do that, I realized I could get myself into a jam.
If I were to reduce my price on the forum and someone buys it, the counter offer I made on Sedo would still be available for that buyer to accept my offer. Should that happen, I would have two people who rightfully agreed to buy the domain name at my asking price, and I would obviously only be able to follow through with one. It would be an ethical dilemma that at best would leave a stain on my reputation, and at worst, it could lead to legal issues.
If you have an open negotiation thread at Sedo or other marketplace, you should probably not try to sell the domain name elsewhere at the same time. It’s a bit frustrating that I can’t cancel the negotiation from my control panel, but if I was a buyer contemplating a purchase, I would want to retain all the time given to me.
If you have more than one sales thread or outstanding offer, you need to retain control over them all, or else you could find yourself in a bad predicament.
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